elites ripping off america, it is sickening and there has to be a reckoning. it won't happen in the media. it will not happen in congress because far too many of those folks are in the same clan, bought and paid for when it has to happen soon. we continue to slide off of its pedestal into the dustbin of history. remember, this is not sam bankman-fried, valued at $47 billion, bankrupt worth $50 million, company after company after company, something is going on and it is designed to steal money from you and from me and to kill our dreams and hopes and we have to start fighting back. i leave you with that. no one better to help than liz claman. liz: i'm thinking about how none of the ceos was led away in handcuffs.

without admitting guilt, the company will pay x amount of money. thank you very much. the dow, s&p and nasdaq are 59 minutes from closing the best week in a year. the wrestlers on pace to clock its first winning week out of 5. we kick off the final hour of trade, one week after both the s&p and the nasdaq fell into correction territory down 10% from recent highs, they've both come roaring back to their 200 day moving average which is a key indicator to determine overall market trends. this week the s&p is up 6%, the dow is bringing up the rear 5.2%. pops in the majors at this

moment, drawn by the october jobs report showed 150,000 jobs created during the month missing the 180,000 jobs expected and the unemployment rate slightly higher than 3.9%. both these pictures settle better signal and orderly economic slowdown, not so orderly the yield on the 10 year as recently as october 23rd, poked its 23, poked its head above 5% for the first time in 16 years. it stands at 4.50% so you are looking at 50 basis points over a short period of time. that yield has cratered and has more to do with the federal reserve decision to hold its benchmark interest rate steady for the second break meeting giving investors hope they are done with a rate hike cycle which began march 2022. we've got to talk about the shock of last night's warning

from apple but it is wearing off. look at this in turn day picture falling to an intraday low of one hundred $75, we are at $176. so not the worst picture in the world. the negative reaction was triggered by the revenue number while a slight lead at 89.5 billion marks the fourth quarterly revenue drop in a row. keep in mind apple shares returned to juicy 35% this year. as one of the magnificent seven stocks that carried so much of the markets water thanked investor peter lynch who returned an average of 29% annually during his 13 years as managing fidelity's magellan tells barons he is thrilled by how far the russell small and mid-cap have fallen, screaming bargain. he loves them. time to turn from the apples of the world, let's get to the floor show this friday.

piper chandler's senior research analyst has a $20 price target and alternative asset management, dan greenhouse, looking at what happened with apple and it is more about the current quarter, the so-called all-important holiday quarter. if you are as worried as the market appeared to be last night? >> not at all worried and there's a story that needs to be told. when apple announced the guidance, they said they were going to be flat on a year-over-year basis which means no growth. in that number, there's a few things that tell the story. there was an extra week, 7% of revenue, a head wind, there is a large pickup in the mac business, some supply catch up

and the same is true for the ipad business. there were a lot of positives that happened last year. if i strip that aside and say 7% plus the 1% affect head wind, apple knew about 8%. all things being equal. the only thing that bothered me was the available business didn't grow as much as i would have hoped. the service was great but the key which is 15% of revenues is the iphone and the iphone was up 2.5% despite the tough call. and in those models the most expensive and sort of best phone. when you take over the site none of it was a great win. liz: the demand is there, let me bring greenhouse into the conversation, the magnificent 7 which have really floated much

in the market and peter lynch says i like what is beaten down, doesn't that make better sense? >> when you look at the russell 2000 which is the index which is generally used for small caps, it makes it harder than the magnificent seven large-cap stock index and the reason for that on balance is those stocks are more volatile. as soon as interest rates go up they do poorly and as you mentioned earlier, down 40 basis points all the time. not surprising you see them react and as you see we have the russell up 3%. liz: even so, what a week for the russell. it has been a week of 8%. year over year, every major index, the russell is flat to slightly over. >> 1/3 of the russell 2000,

what a lot of people, they lose money and are unprofitable. >> if you want to mimic it. i did not fall off in the last couple months, this stomach churning -- >> it is substantial. >> how do you train your clients? you are a hedge fund. how do you train everybody to say now is the time? >> one of the most famous sayings, is the street so to speak, and analogy to use today, with all the troubles in the world, from a stock standpoint, what you see in the small-cap index, the etf has been particularly bloodied and your hedge fund a retail investor is not made buying stocks that everybody knows about and buying stocks better that much. larry: liz: we are looking at the

stock index with a strong session here, this is the semiconductor index. a lot of names in here. nvidia, micron, most of these, micron no, you have a holder to hold on an xp semiconductor and seagate. everybody else, sky works on semi, isn't it hot to be buying these things? the p/e ratios are very high compared to earnings power. >> an interesting disconnect between the actual economy and semiconductor stocks. looking at competing names, the microns of the world are definitely intel which we don't cover. they've been to the correction. they all had a massive correction nine months ago to a year ago. if you remember nvidia was

close to the bottom a year ago, since then they cleaned out the crypto inventory and rebuild their business based on generative ai. the only area that hasn't corrected is the analog players. we are hearing from qualcomm, they are saying it is done. the handset sector is done and we are on our way to recovery. the broader economy still has to correct and go to the textbook recession but semiconductor stocks corrected and inventories are reset in analog's case. liz: i don't see qualcomm in your coverages because it indicated the handset problems

are bottoming. as far as sectors are concerned, what are you picking at the moment? >> the tech names, portions of the tech sector have experienced substantial decline you can take a look at, with the energy and leisure or consumer space. on the energy side oil is off of its highs but a lot of companies are cash flow machines. they've gotten religion the last couple years in terms of not investing more than free cash flow. the case of the case of consumer stocks has been constant consternation on weakness in the consumer, do they run out of excess savings? the consumer proved incredibly resilient and remains so today. within the consumer space is a

number of ways we've been playing this and viewers can still find ways. liz: i look quarter to date, down 11%, gasoline down 7 or 8. >> when you look at it and people say energy is down x, a lot of the other names in this space are up considerably. liz: welcome to the show, we appreciate it. we are looking at solid gains from apple to the big apple, road runners from around the world. having a pace to manhattan to the new york city marathon this weekend. could this be the race where one superstar cracks the 2 hour barrier? by superstar, we don't mean that, we mean the shoe, the ceo of brooks running on the

speaker technology race, ever closer to the magical milestone. adidas's first iteration of a running shoe was banned by some race organizers but been rebuilt and now worn by the top four winners of the boston marathon. nike use to dominate the running market, no longer, stock has gained 9% alone. holdings up 16% this week while sketchers has a shoe worn by new york and boston. big-money in shoes next. (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions,

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liz: in 48 hours, 50,000 rotors will flood new york for the new york city marathon. runners from one hundred 50 countries will donald wide variety of sneakers to help them sprint across the finish line. the type of shoe is the runners choice. it helps when you know that the issues have been worn by winners from the past. brooks running company, berkshire hathaway made the sneakers desiree linton war when she won the boston marathon women's in 2018. they've got some big names sporting the brand at the new york city race with one of them wearing the new ghost max sneakers but it is a vicious competitive world, much more than ever. joining me is james weber. of my gosh, you guys have come so far from when i first started covering you a decade ago. you had much smaller market, now you have a 21.4% market .

>> . >> we made progress. thanks for having me. we've been here for a decade. joining berkshire, we were part of the 300 million, we reach 1.3 million this year. what's different about that is all performance running shoes, what we focus on. a great week to celebrate runners and running. liz: let's be honest, you watch the finish lines of the big major races and say we want one of our people to cross the finish line 1st or second certainly wearing these shoes, but desiree linton shoe. what was and how has it changed? >> carbon plates are in shoes for competitive racers, carbon springs and the issues have become necessary and from literally sprinting all the way to marathon, that the elites are wearing, not everybody wears them but if you want pr and in good shape a lot of

people are trying that on race day. hours is the peering platform, it was pioneered for us and the whole platform has been successful. a real champion in our high appearance shoes. we celebrate everybody so marathon's for every one, 50,000 people out there, not everybody will break the tape except for two people and so there are so many people running this race. liz: i want to talk about the substance that makes up these shoes today. i'm sure much of it is proprietary but in some of your stacks on the bottoms of the shoe there's nitrogen infused -- i mean this is foam, this is pretty interesting, it get so high tech and it is viciously competitive. >> 10 years ago it was barefoot running, cushioning is a universal truth, people love it so all the rage is maximum

cushioning. you've got to put a rocker in to see through it. liz: you see how thick this base is like jumping on a trampoline. >> we been doing this for decades. at the molecular level nitrogen is a larger molecule and it creates a whole different cushioning mechanism 50% wider, very durable. liz: you've got an important race are competing this weekend. he's canadian, youtubeare. he's run two marathons, ultramarathon and iron max, he will be sporting a pair of ghost macs when he attempts that.

>> he has 6 million followers. i'm it is different demographic but anybody challenging themselves with running and celebrating the run, we are excited to partner with him. it will be a fundraiser this weekend. liz: speaking of a different demographic, in his 90 second year, warren buffett, who looked at your company so many years ago and said this is a cast machine, he believes in management too. he doesn't replace the top people, he saw something in the you. greg abell is the man who will take over on the operations side for every part of the business. how often do you meet with them? >> the program for us is the same with greg as with warren. we take greg through the strategy every year and review the business and so my job with greg is have him support the investment because cash on cash return will come from this and

i'm supporting it. liz: from $300 million to 1,000,000,003 and climbing. good luck to cody and everybody, thank you so much. revenge travel is here to stay, that is what expedia is saying. the online travel booking company putting its money where its mouth is with a share buyback. what do you see the stock doing? next. 39 minutes away and a little bit of a trace here. the dow is up 260 points. the s&p up 49, nasdaq up 202 points. we are coming back on this friday. stay right there. as an independent financial advisor, i stand by these promises. as a fiduciary, i promise to be the financial steward that you and your family need. i promise to put your long-term financial well-being above any short term transaction. everyone has a big picture. my job is to help you invest in yours.

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liz: fox business alert, 34 minutes left to trade the, and a rally, this has been interesting, the past couple days but for the nasdaq it is the sixth day in a row, 200 points, up 1.5% for the text heavy index. misfortune at this hour after the cybersecurity company mr. earnings expectations but also gave a weak outlook for the current quarter, the tired company slated slowing growth for network firewall appliances stumbling to its lowest level in one year and is down 12.6%.

if you look at the rivals here, an impressive 47% gain this year, up 4.7%, very interesting moves on crowd strike. they got swamped by the forecast, the tide swamped it. it dropped as low as $178, $10 higher at the moment with a gain of 3.1%. palo alto networks can't get out of the corner, still down 2% but year to date a winner up 75%. %. we mentioned expedia going into the break, here we are with 18.9% gain. expedia taking to the skies, posting better-than-expected quarterly profit and also announced a share buyback plan of $5 billion. it loves it stock at this level, record revenue, the

resilience of travel demand. no roadblocks for block as it goes to its biggest increase in the year, a gain of 11.3%, the stock reported third-quarter earnings beat jack dorsey, pledged to stay disciplined when it comes to profitability. while hiking its full-year province, bitcoin revenue also jumped double digits which leads me to coin base. let's look at coin base, higher by one. 5% off the % off the highs of the session, the crypto company on the top and bottom line and heard quarter, coin base that revenue tied to some script and then services in the fourth quarter will be flat compared to the previous quarter. former crypto kingpin sam bankman-fried found guilty by a jury of his peers last night. we will give you a recap of the courtroom drama but also spin

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liz: now convicted fraudster sam bankman fried faces maximum sentence of 110 years in prison, a federal jury found him guilty of all 7, counts against him. the charges were tied to the collapse last year of ftx's crypto brokerage alameda. kelly o'grady joins me live covering every moment of this trial for what we now call furniture fraud in us history, a big move last night. >> this was a wild end to this trial. i will set the scene for you. we were speaking yesterday -- they started elaborating at 3:15 during your show and four hours later we have a verdict. that was shocking and for some context, bernie madoff who confessed it took a jury four days to convict him. we were all surprised, he was convicted of all counts of wire fraud.

wire fraud conspiracy, and two counts to commit security and commodity fraud. he is facing one hundred 10 years in total. the sentencing was march 28th. last night when the verdict was read, sam bankman-fried might have been coming, very stoic, very emotionless but the parents were distraught, his mom had her head in his hands, there was this really strange moment as sam was leaving the courtroom he looked at them and smiled and just nodded and it was the moment of understanding of i guess this was always going to happen. a lot of us wondered why it would take such a short time. i spoke to a number of prosecutors and they said it came down to credibility. who was more credible? caroline ellison or sam bankman-fried? the decision to take the stand

and have all those moments of amnesia really hurt him. no one was surprised about the verdict. whether it was crypto or cashless, the jury sent a strong message last night. liz: people waiting to get their money back. a lot of lives put on hold, they saw their money go up in smoke. people shouldn't beat up on crypto. we saw bernie madoff, hard cash invested in stocks, was all frittered away or completely used for his own purposes. the question, what are the odds that he will face more than 100 years in prison? joining me, former sec attorney howard fisher. speed of the trial, speed of the verdict, you did not expect

an answer last night, what does the judge look at here? >> both sides make strong arguments, the defense will say the sentence should be served concurrently and the prosecutors say they should be consecutive and a lot depends what the 3 sentencings look like. but frankly, given the speed the jury came back with a verdict it is pretty clear that the evidence was overwhelming. i would be very surprised if sam bankman-fried, i would not be surprised if he ever sees the light of day as a free man again. these aren't the only charges he faces. there are still charges of campaign-finance fraud he is facing as well.

supposed to be heard early next year. what's interesting about those charges, there's been little coverage about what's behind those charges. who did bankman-fried make these contributions to? it is possible that could open a new can of worms, as noteworthy a case as this, that dealt with financial machinations, of a poorly run and poorly managed business, those could strike at the heart of how we run our campaign finances, still facing, this was a remarkable trial it is possible we face another one.

liz: he allegedly used customer money without customers knowledge to make these contributions mostly to democrats but to some republican this as well. they had, i believe, prosecutors dropped the charge on a technicality, but they intended to file superseding indictment next week on this. let me spin it forward to who else gets swept up into this? his parents, both attorneys, his father was very involved, his mother was also very politically involved as well. >> we shouldn't forget the criminal case, losing your liberty is an important part of what is going to happen to bankman-fried, there are other charges. the sec brought charges against him and while it is typical whether it's a criminal conviction, the sec charges are

settled quickly because it is a settlement of the sec case. what it often does is bring cases against what are called relief defendants. not participating in the fraud, benefited from it. they got money from it or assets, property. anyone who got money that they shouldn't have could have been subject of defendant action that includes his parents, anyone who got property in the bahamas. liz: that is his parents. howard:that is a variety. i would not be surprised to see a cased file against his parents and they will be wrongfully obtained as a result. liz: we will be watching it, we have to wait until march to see the sentencing, for seven counts from yesterday.

thank you for clarifying, especially what the judge is expected to do considering they came back so quickly with the verdict. thank you. up next, charlie gasparino in the sunshine state talking to the cofounder of home depot, bernie marcus, charlie breaks down what the 94-year-old billionaire has to say about where he sees markets going, the economy and the political landscape waiting through all of it. home depot hellos, in the us construction etf ticker itv, over the past year or so, 50% and right now gaining 3.5%, coming right back.

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liz: you will love this backdrop. at the chun sign state, charlie gasparino sent out with bernie marcus to talk about the state of the economy and the rise of anti-semitism in the united states. charles: it was a fascinating interview. the full interview with on foxbeen since.com.

bernie marcus has seen it all. he knows he is at the end of the road. he's worried about the future of this country. listen up. >> not at all. not at all. i would like to believe that the american people, i must tell you, the last election was a big disappointment for me. i worry about my grandchildren. imagine these kids being afraid to go to the library, afraid to walk outside. i never thought i would see that. charles: he is no fan of president biden, a supporter of donald trump, still may support him in 2024 but also worried about biden's policies and how it led to inflation which he believes is a vast and pernicious tax on the middle class, listen to what he had to say about that.

>> i have never forgotten the fact that i was a small businessman and home depot customers, i had them in mind. they are getting killed, getting killed. they can't fill their cars with gas. they can't afford to put a good meal on the table with their families. they can't afford their rent. they can't afford their insurance. everything there is is up. charles: bernie marcus was born in 1929, grew up in a tenement, a proud jewish american. listening to him talk about the anti-semitism crisis we have in our nation's campuses brought tears to my eyes. listen to what he had to say. >> this is no different than nazi germany coming back.

i see nazi germany all over this thing. in the 40s when i grew up and saw this happening, it ended with the holocaust, the concentration camps, killing jews for the sake of killing jews. that's what these kids, they don't know what they are marching to. charles: there are very few people like bernie marcus. american capitalism often gets defined by sam bankman-fried who was found guilty of perpetrating massive fraud. bernie marcus is the american capitalist. a man who comes from nothing, works his way through states will, rutgers university, gets fired from his job in the 1970s as ceo of a company called handy dan and he goes to the

great financier can layingone, divorce kicked you with the golden horseshoe, start that thing called home depot. i should point out, handy dan has been out of business since 1989. home depot is a $300 billion company right now, $150 billion a year in revenues. bernie marcus is a billionaire, so is can layingone, american success stories, they are what it means to be american. i will say this about bernie. he has taken his money to give a lot of money to charity but also in the political realm, he believes free-market capitalism needs to be savored. it is under assault and the country is heading for third world status unless there's a change in political leadership from where it is today. office you can find on foxbusiness.com, the long

version of the interview. a man in the winter of his life, he's looking back and saying i wish i could fight longer because this country needs saving. fascinating stuff. liz: he echoes leon cooperman, son of polish, jewish immigrants living in the bronx, first to graduate from college, makes his way to colombia, gives $50 million to columbia and is pulling his money because columbia can't find it in its mind or heart to speak out against a professor who called the hamas attacks on november 7th innovative. charles: bernie had some choice words for those kids on campus. he's not alone. we might be at a tipping point for all the stuff going on. bernie has been calling this out for years. so has leon cooperman but now

you see many more mainstream sort of wall street executives, progressive politics has led us to the point it is fashionable to say kill the jew. bernie has a lot to say about that. you can see on foxbusiness.com momentarily. liz: we have survived many an empire. they are all coming out against harvard and penn. mark rowen is close according to the new york post, to getting the head of the board at penn. charles: i foreshadowed that last week on your show that he has $1 billion that has been essentially taken out of the pen coffers, 7000 people saying get rid of the leadership because they condoned anti-semitism. you get what you pay for. liz: and cornell, no classes today because they couldn't

figure out how to deal with that. very impressive stuff. let's look at the markets on this friday. it is going to be the best week of the year for the dow, the nasdaq, the s&p and the russell. i think it is important to point out the gains you see right now are because we are seeing a softening of the which came in a little bit lighter than expected at 150,000 jobs created during the month which is still pretty darn good, but it missed the 180,000. and if the economy slows, perhaps prices and the inflation that bernie just talked about may very welcome down. let's look at moderna shares right now. this is unbelievable. do you remember yesterday, moderna was tanking? well, look at this. it's a tale of who to trading sessions. the pharmaceutical company plunged about 6.5% yesterday when the company lowered its guy dance for full-year covid-19

vaccine sales. today the success got a stock in the -- stock got a shot in the arm, erasing all of yesterday's losses. the ceo creating all kinds of great medicines and great vaccines for people. let's see what happens with moderna in the future. s&p has been beaten down over the past three months, down more than 8.6, but it looks like the bulls have finally woken up from, well, a 3-month nap. markets on pace for their best week of the year. course countdown closer says investors can gear up for the end of year turkey trot rally, last two months of the year. joining us now with $30 billion in assets under management, market strategist ryan dietrich. the tart of this week jim lacamp of morgan annually warned too many hedge -- morgan stanley warned too many hedge funds were going to the face a short squeeze. what do you portend for the rest

are of this week and month? >> liz, thanks for having me back and glad to be here, the best week of the year. what a good time to talk about it. what jim said is right. everybody was bear bearish this time a week ago. you see a correction on average about once a year. after the best start to the s&p for seven months since 1997, yeah, you know, it made sense to have a pullback. and with all the scary headlines, liz, it just took something to get it going. we've been in the camp the fed's likely done, they came out and pretty much said that. look at small caps the last two days, just an incredible explosion, up 5% in two days. the economy's still humming along and, you know what? seasonals are strong. november's historically strong, december's good. fourth quarter of a pre-election year is normally strong. so i can get into all this stuff, but we still think we're going higher here. liz: bullish on what? vf corp. earlier this week struggled when it pulled its

guidance. they've been mimicked by a lot of other consumer companies. of course, the parent of timberland and the north face and vans. they're a little worried about the consumer who's now having to make some pretty tough choices, ryan. is so which areas do you think are going to take the lead here? >> yeah, we've been overweight equities all year, but right here and now, and we still think the cyclicals, liz, we didn't see recession this year, we still don't see one next year. yes, the consumer is showing cracks, but by no means are we seeing the consumer slow down. we like energy -- believe me, we've liked small cappeds to mid caps for a couple months, and they have struggled mightily, but now with yields going lore, small caps and mid caps are historically cheap relative the large caps. so i'm looking out for a surprise next year, it could be small and mid caps could do really well, and that's how we're position our models.

liz: that's exactly what peter lynch, the famed magellan chief over at fidelity for so many years. what an impressive run he had of 29% gains average when he was there. but some of the big caps, for example, walt disney definitely beaten down, no? there's some consumer names you could look at and say walt disney's not going away. >> don't disagree at all. i don't disagree at all. again, we're more even weight as it comes to large cap names, we just think the opportunity's in the smaller ones. but big picture, if yields indeed have peaked with the fact that we're in the best six months of the year for equities here, it's interesting how everyone got so beared up, and we still think this is positive. earnings are probably going to be an all-time high next year. you know what usually happens? stocks tend to follow suit. as we speak, the s&p's 9% from an all-time high, not that bad all things considered.

liz: this is unusual to see a rally on a friday, especially since the disastrous and atrocious if attacks on israel starting october 7th. people haven't wanted to go in long the markets. how much could that affect the markets in the future, at least the near future, this war? >> sure. well, geopolitical concerns, obviously, can. we've seen times in history as terrible as a those events are, markets can do well. don't forget, liz, monday has his the to haveically been the -- historically been the best week this year, so, hey, tgim. monday's coming up. stocks like monday for whatever reason. liz: ryan, love arely to have you. there are the closing bell, and we end the week on a big rally here. big moves. northern transports, they too are seeing a 1.26 gain, but it's the nasdaq once again, big surprise here, nice move. ♪ david: hello, everyone, and welcome to a special edition o